Insmed (NASDAQ:INSM) Stock Rating Lowered by StockNews.com

Insmed (NASDAQ:INSM) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other research analysts have also weighed in on INSM. Bank of America reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Insmed in a research note on Friday, July 5th. Guggenheim raised their price target on shares of Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. UBS Group raised their price target on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company raised their price target on shares of Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.38.

Insmed Stock Performance

Shares of Insmed stock traded up $2.17 during trading hours on Friday, reaching $73.98. The company’s stock had a trading volume of 1,535,279 shares, compared to its average volume of 2,485,537. Insmed has a one year low of $21.21 and a one year high of $78.87. The company has a market capitalization of $10.99 billion, a P/E ratio of -14.15 and a beta of 1.16. The stock’s fifty day simple moving average is $68.44 and its two-hundred day simple moving average is $41.83.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The business had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. During the same quarter last year, the business earned ($1.78) earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts forecast that Insmed will post -4.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the completion of the transaction, the insider now owns 123,259 shares in the company, valued at $3,139,406.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John Drayton Wise sold 5,088 shares of Insmed stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the completion of the transaction, the insider now owns 123,259 shares in the company, valued at $3,139,406.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sara Bonstein sold 11,088 shares of Insmed stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.32, for a total transaction of $280,748.16. Following the completion of the transaction, the chief financial officer now owns 117,481 shares of the company’s stock, valued at approximately $2,974,618.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 295,842 shares of company stock valued at $13,762,062. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP purchased a new position in Insmed during the second quarter valued at approximately $810,000. Envestnet Asset Management Inc. grew its stake in Insmed by 211.9% during the second quarter. Envestnet Asset Management Inc. now owns 175,464 shares of the biopharmaceutical company’s stock valued at $11,756,000 after acquiring an additional 119,214 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Insmed during the second quarter valued at approximately $449,000. Federated Hermes Inc. grew its stake in Insmed by 11,879.8% during the second quarter. Federated Hermes Inc. now owns 10,063 shares of the biopharmaceutical company’s stock valued at $674,000 after acquiring an additional 9,979 shares in the last quarter. Finally, Meeder Advisory Services Inc. purchased a new position in Insmed during the second quarter valued at approximately $235,000.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.